Former financial adviser and accountant, Satvir Singh Birk, of Reedy Creek, was today sentenced in the Southport District Court to two and a half years imprisonment, following an ASIC investigation. On 25 May 2018, Mr Birk, aged 42, pleaded guilty to five counts of dishonestly using his position as director of The Carter Group with…
Read more
The Securities and Exchange Commission (SEC) has announced charges against an investment adviser with a history of violating the securities laws for defrauding his close friends and community members. According to the SEC’s complaint filed Tuesday, from at least 2014 through at least 2017, Bruce J. Fixelle solicited investments from close friends he met through…
Read more
The Commodity Futures Trading Commission (CFTC or Commission) has announced that it has filed a civil enforcement action in the U.S. District Court for the Eastern District of New York, charging Yehuda L. Belsky of Brooklyn, New York, and his firm Y Trading, LLC (Y Trading) with solicitation fraud in connection with binary options trading.…
Read more
Australian regulator ASIC has announced that it has taken action to stop several proposed initial coin offerings or token-generation events (together, ICOs), targeting retail investors. ASIC has recently stopped the issue of a Product Disclosure Statement for a crypto-asset managed investment scheme. Consistent problems identified by ASIC are: the use of misleading or deceptive statements…
Read more
The Securities and Exchange Commission (SEC) has announced that SeaWorld Entertainment Inc. and its former CEO have agreed to pay more than $5 million to settle fraud charges for misleading investors about the impact the documentary film Blackfish had on the company’s reputation and business. SeaWorld’s former vice president of communications also agreed to settle…
Read more
The Monetary Authority of Singapore (MAS) has informed the public that a fraudulent website has been soliciting investments in Bitcoins using fabricated comments attributed to MAS Chairman and Deputy Prime Minister, Tharman Shanmugaratnam. The name of the website is positivebathhour.com / gulfweedcrab.com and the website’s article on Bitcoins is highly deceptive and misleading. The statements attributed to…
Read more
The Securities and Exchange Commission (SEC) has informed the public that it has charged two brokers for recommending excessive levels of trading that were costly for retail customers but lucrative for the brokers. In separate complaints filed in federal court in Manhattan on Friday, the SEC alleges that Florida resident Emil Botvinnik and New York…
Read more
The Securities and Exchange Commission (SEC) has announced that it has charged a group of 10 individuals and 10 associated entities for their participation in long-running fraudulent schemes that generated over $27 million from unlawful stock sales and caused significant harm to retail investors who were left holding virtually worthless stock. According to the SEC’s…
Read more
The Securities and Exchange Commission (SEC) has announced that it has charged the founder of San Francisco-based venture capital funds and his investment advisory firm with overcharging investors to fund personal projects, including sending millions of dollars to his own virtual reality production company. The SEC’s complaint alleges that Michael B. Rothenberg, 34, marketed his…
Read more
Two former senior bankers have been convicted for manipulating the Euro Interbank Offered Rate (EURIBOR) at the height of the financial crisis following an investigation and prosecution brought by the Serious Fraud Office. Phillipe Moryoussef, formerly of Barclays Bank, was found guilty on 29th June 2018 by a jury. The conviction follows a guilty plea…
Read more